For centuries, the Indian monsoon has shaped profits, harvests and livelihoods, yet nobody could hedge its risks. That just changed. With the launch of India's first weather derivative, businesses and traders can now take positions on rainfall itself. But is this a revolutionary tool for managing climate uncertainty, or merely a sophisticated wager on the weather?
RAINMUMBAI is a futures contract listed on NCDEX that lets you take a position on Mumbai's monsoon. | Image: Shutterstock

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